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CCI approved Jet-Etihad deal worth 2058 Crore Rupees

Nov 13, 2013 11:50 IST

Competition Commission of India (CCI) on 12 November 2013 approved the proposed acquisition of 24 percent stake in the Naresh Goyal–led Indian carrier by Abu Dhabi based airline. This decision will allow the closure of long pending Jet-Etihad deal.

Etihad is acquiring the stake for 2058 crore rupees in a deal that was announced in April 2013. This will become the first-ever Foreign Direct Investment in an Indian carrier by an overseas airline.

The deal has already been cleared by capital markets regulator SEBI, Foreign Investment Promotion Board (FIPB) and Cabinet Committee of Economic Affairs (CCEA).

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